🔍 Key Concepts

• Understand common chartering terminology used in voyage and time charters • Know what fixture or fixing a ship generally refers to in commercial practice • Differentiate between tendering notice, dispatch, and delivery of the vessel in a charter context

💭 Think About

• Which term specifically describes the moment when control/possession of the vessel passes from owner to charterer under the charter party? • Which option refers more to an agreement or contract being made, rather than the physical/operational handover of the ship? • Which term is associated with giving formal notice of readiness, and which is linked to saving time on loading/discharging?

✅ Before You Answer

• Identify which term is most directly defined in texts as delivery of the vessel to the charterer • Eliminate any term that mainly describes making the deal rather than carrying it out • Verify which option is commonly paired with the phrase notice of readiness (NOR) in charter party practice